PETALING JAYA: Boustead Properties Bhd is optimistic of increasing the occupancy rate at its shopping mall, The Curve in Mutiara Damansara, to pre-pandemic levels as shoppers still like the physical shopping experience.
The group, which is a unit of Bursa-listed Boustead Holdings Bhd, said its footfall has seen encouraging levels back to recovery and even stronger than pre-pandemic times.
This is an indication that recovery in net lettable area occupancies will follow suit and continue to improve further moving forward.
“At the moment we are almost there - back to pre-pandemic levels – as occupancy is now at 89% and we hope to reach 93% by the end of the year.
“Whatever programmes we have undertaken is bearing fruit,” Boustead Properties’ chief executive officer Khairul Azizi Ismail told StarBiz.
Khairul said footfall traffic at The Curve has now reached even higher levels than pre-pandemic at a circa 900,000 per month.
“Prior to the pandemic, our footfalls were at 860,000 per month. So we have surpassed the 2019 figures basically. Our efforts are bearing fruit and it is still ongoing,” he said.
The group’s unit Boustead Curve Sdn Bhd yesterday signed a document of understanding with K Ecomart (M) Sdn Bhd which is a part of the KMT Group to establish The Curve’s first grocery outlet, K Plus Food Market.
The KMT Group is a leading importer and distributor of a wide variety of South Korean food and household products for the Malaysian market.
“It is a boost of confidence (for us) as they are taking up 5% of the net lettable area in The Curve. We are confident moving forward that this will increase the traffic of the mall post-pandemic,” Khairul said.
“The latest addition as an anchor tenant is significant for a single tenancy,” he added.
The partnership will also see the establishment of various South Korean-influenced outlets at The Curve in 2022, Khairul said.
The group said this move is part of restrategising the mall’s tenant mix to expand its offerings.
K Plus Food Market will occupy approximately 30,000 sq ft of prime space on the ground floor of the mall.
The company statement added that the opening of the grocer in the fourth quarter will be followed by Dae Ga Korean Grill and Barbeque restaurant later this year.
“Given the popularity of South Korean culture, K Plus Food Market will certainly elevate The Curve’s tenant mix.
“There is tremendous potential to be tapped here through this partnership, and which enables us to offer our patrons the widest range of premium South Korean food and household items conveniently under one roof,” Khairul added.
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